03.1 We’ve Got a Problem Europe is not necessarily tangibly better or worse than other tech hubs – however, given that Europe is such a diverse range of geographies and people this should be a key strength. “ Lack of diversity is driven by a combination of factors that affect the pipeline of talent in STEM subjects, the availability of diverse role models, access to expertise and capital, social mobility and a range of other issues. Europe is not necessarily tangibly better or worse than other tech hubs – however, given that Europe is such a diverse range of geographies and people this should be a key strength. I am encouraged to see the subject of diversity and inclusion appear Check Warner on the agenda of more tech companies and more VCs over the last Diversity VC 12 months and to see so many funds participating in initiatives led by Diversity VC and others. I hope that this translates to sustained and impactful change – the first step though is understanding the situation as it is today, which is why Atomico’s commitment to this subject is so encouraging.” The European tech industry's lack of diversity could not be more stark when it comes to how funding is allocated in The European tech industry’s lack of diversity could not be more stark when it The European tech industry's lack of diversity could not be more stark when it comes to how funding is allocated in the region. It is arresting to see that male founders and founding teams receive 95% of the capital invested and comes to how funding is allocated in the region. It is arresting to see that all-male the region. It is arresting to see that male founders and founding teams receive 95% of the capital invested and account for 90% of deals,. It is even more stark to see that the these shares have not changed in the last year account for 90% of deals,. It is even more stark to see that the these shares have not changed in the last year founding teams receive 93% of the capital invested and account for 85% of deals. It is even more stark to see that these shares have not changed in the last years. Capital Raised Capital Raised Capital raised and # of deals by founding DATASET: CAPITAL RAISED Capital raised and # of deals by founding 100 95% 94% team gender (%) 100 92% 93% 93% 93% team gender (%) ) 92% 95% 94% 93% 93% 93% % ( ) s LEGEND l % 75 a ( e s l LEGEND d 75 a Male f e o d # Male f / o Female ) # % 50 / ( Female Mixed ) d % e 50 ( s Mixed i d a e r s l i a a t r l pi 25 a a t The European tech industry's lack of diversity could not be more stark when it comes to how funding is allocated in C pi 25 a C 6% the region. It is arresting to see that male founders and founding teams receive 95% of the capital invested and 2% 4% 2% 4% 3% 4% 2% 5% 2% 5% 6% 1% 4% 4% 4% 5% 5% 0 3% account for 90% of deals,. It is even more stark to see that the these shares have not changed in the last years. 2% 1% 2% 2% 2% 0 2013 2014 2015 2016 2017 2018 2013 2014 2015 2016 2017 2018 Source: Source: DATASET: # OF DEALS # of deals 85% 86% 86% 85% 85% 85% ) 75 % ( s l a e d f o 50 # / ) % ( d e s i a 25 r l a t 10% 10% pi 9% 9% 9% 9% a 6% C 5% 5% 5% 5% 5% 0 2013 2014 2015 2016 2017 2018 Source: & 29 In Partnership with www.thestateofeuropeantech.com